Zorin Finance has closed a £8.5m PBSA development loan within walking distance of the Russell Group University of Bristol.
Offering a mix of three to six bed apartments totalling 81-beds, the Grade II listed building will be lightly refurbished in preparation for the 2024/25 academic year. The fully furnished development will be finished to a high standard, offering spacious open plan living, double size bedrooms, ensuite shower rooms, and secure onsite bike storage or car parking.
UK Student Accommodation has proved to be a resilient asset class and with two world class universities, and a campus of the University of Law, Bristol has maintained a strong level of demand for student occupiers. Located in the city centre, the development is in a prime PBSA location, and prospective tenants will be attracted to the ease of being withing walking distance of their university, major transport links, restaurants and shops.
A repeat Zorin borrower, they will use their own contracting arm which will expedite delivery of the refurbishment in time for this years student intake. With a wealth of experience in the PBSA sector they will also have their in-house management team who will look after the development once complete.